Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Ireland - 2023

Contents:

1. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Ireland (CIF) - 2023
2. Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Ireland (FOB) - 2023
3. Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Ireland
4. Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Ireland

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Ireland (CIF) - 2023

In October 2023, the average import price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $2,573 per ton, leveling off at the previous month. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 23% against the previous month. Over the period under review, average import prices hit record highs at $3,394 per ton in June 2023; however, from July 2023 to October 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was the Netherlands ($5,155 per ton), while the price for the UK ($1,663 per ton) was amongst the lowest.

From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Ireland (FOB) - 2023

In October 2023, the average export price for liquid margarine and edible mixtures of animal or vegetable fats amounted to $1,933 per ton, with an increase of 1.9% against the previous month. In general, export price indicated a strong expansion from October 2022 to October 2023: its price increased at an average monthly rate of +5.0% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, export price for liquid margarine and edible mixtures of animal or vegetable fats decreased by -13.1% against July 2023 indices. The pace of growth was the most pronounced in December 2022 when the average export price increased by 31% m-o-m. The export price peaked at $2,223 per ton in July 2023; however, from August 2023 to October 2023, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the UK.

From October 2022 to October 2023, the rate of growth in terms of prices for the UK amounted to +5.0% per month.

Imports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Ireland

After two years of decline, overseas purchases of liquid margarine and edible mixtures of animal or vegetable fats increased by 25% to 56K tons in 2022. Overall, imports, however, saw a abrupt decline.

In value terms, imports of liquid margarine and edible mixtures of animal or vegetable fats soared to $144M in 2022. Over the period under review, total imports indicated resilient growth from 2019 to 2022: its value increased at an average annual rate of +5.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats to Ireland in 2022:

1. Belgium (36.7K tons)
2. United Kingdom (11.6K tons)
3. Netherlands (5.7K tons)
4. United States (0.2K tons)

Exports of Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats in Ireland

In 2022, after two years of decline, there was significant growth in shipments abroad of liquid margarine and edible mixtures of animal or vegetable fats, when their volume increased by 22% to 8.8K tons. The total export volume increased at an average annual rate of +1.1% over the period from 2019 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of liquid margarine and edible mixtures of animal or vegetable fats expanded modestly to $10M in 2022. The total export value increased at an average annual rate of +2.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 5.8% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Top Export Markets for Liquid Margarine and Edible Mixtures of Animal or Vegetable Fats from Ireland in 2022:

1. United Kingdom (8.8K tons)

Source: IndexBox Market Intelligence Platform